Capital Advisors Inc. OK Boosts Holdings in Blackstone Inc. $BX

Key Points

• Capital Advisors Inc. OK increased its holdings in Blackstone Inc. by 1.7% during the second quarter, ending with a total of 227,479 shares valued at approximately $34 million.
• Blackstone's recent earnings report showed an EPS of $1.21 for the quarter, exceeding expectations, while quarterly revenue increased by 32.7% year-over-year to $3.07 billion.
• The company announced a dividend increase to $1.03 per share, up from $0.93, representing an annualized payout of $4.12 with a dividend yield of 2.4%.

Capital Advisors Inc. OK grew its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 227,479 shares of the asset manager's stock after purchasing an additional 3,888 shares during the period. Capital Advisors Inc. OK's holdings in Blackstone were worth $34,026,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BX. Brighton Jones LLC boosted its stake in shares of Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock worth $1,365,000 after purchasing an additional 2,035 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Blackstone by 126.5% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 573 shares of the asset manager's stock worth $80,000 after purchasing an additional 320 shares during the last quarter. Pines Wealth Management LLC boosted its stake in shares of Blackstone by 5.7% during the 1st quarter. Pines Wealth Management LLC now owns 2,215 shares of the asset manager's stock worth $310,000 after purchasing an additional 119 shares during the last quarter. Gateway Investment Advisers LLC boosted its stake in shares of Blackstone by 3.8% during the 1st quarter. Gateway Investment Advisers LLC now owns 11,000 shares of the asset manager's stock worth $1,538,000 after purchasing an additional 398 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its position in shares of Blackstone by 5.9% in the first quarter. Sivia Capital Partners LLC now owns 1,899 shares of the asset manager's stock worth $265,000 after acquiring an additional 105 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Up 1.1%

NYSE BX opened at $168.40 on Monday. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company's 50 day moving average price is $173.81 and its 200 day moving average price is $153.83. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market capitalization of $124.12 billion, a price-to-earnings ratio of 45.27, a PEG ratio of 1.37 and a beta of 1.77.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.11. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The business's quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. On average, sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were paid a dividend of $1.03 per share. This is an increase from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, August 4th. Blackstone's payout ratio is 110.75%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BX shares. Barclays boosted their target price on shares of Blackstone from $168.00 to $181.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. BNP Paribas Exane boosted their target price on shares of Blackstone from $166.00 to $178.00 and gave the company a "neutral" rating in a report on Monday, September 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Blackstone from $170.00 to $192.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wells Fargo & Company boosted their target price on shares of Blackstone from $153.00 to $167.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Finally, Piper Sandler raised their price target on shares of Blackstone from $157.00 to $181.00 and gave the company a "neutral" rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Blackstone currently has a consensus rating of "Moderate Buy" and an average target price of $175.53.

Insider Activity at Blackstone

In other news, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the sale, the insider owned 737,248 shares in the company, valued at $128,015,742.72. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 21,500 shares of Blackstone stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the sale, the insider owned 453,836 shares in the company, valued at $77,814,720.56. This represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have bought 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,984,634 shares valued at $155,181,346. Company insiders own 1.00% of the company's stock.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

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